You and me baby ain’t nothin’ but mammals. New Yorkers will soon discover a new neighbor on the east side of Manhattan.
Discovery Inc. has signed a lease for 362,000 square feet at 230 Park Ave. South that will move the company and employees from its Silver Spring, Md. headquarters, according to the New York Post.
The Post’s Steve Cuozzo first reported in March that the company was targeting the building for its consolidation.
Discovery CEO David Zaslav is from New York and surprised many by wanting to move to a New York location since the company completed its $12 billion purchase of Scripps. The logic behind this move would be that Scripps already had offices in the Big Apple.
Zaslav’s two major media companies will join other tech companies located along the Midtown South corridor.
The new headquarters will have open workspaces, a terrace and studios, seeming to follow in some of the footsteps of former Mayor Michael Bloomberg, who made sure the Bloomberg Building in midtown had these types of features. The billionaire entrepreneur and innovator has a desk out in the open that’s the same size as everyone else’s. but will not incorporate the current Chase bank in the base.
Discovery, Inc. mostly airs fact-based television networks, like namesake station Discovery Channel, Animal Planet, Investigation Discovery, Science, and TLC among others. In March 2018, the company completed its acquisition of Scripps Networks Interactive, which added networks such as Food Network, HGTV, and Travel Channel to its portfolio. The combined company operates five of the 10 most-watched U.S. cable channels among women. As of Monday, the company’s stock even trended upwards, moving its share price out of lower ranges considered volatile.
The New York Post reports that Discovery was represented by Cynthia Wasserberger, Michael Berg and Joe Judge of JLL. Landlord TF Cornerstone was represented by Cushman & Wakefield’s Bruce Mosler, Ethan Silverstein and Mark Mandell.
The move in is scheduled to begin in the fall of 2019 and will continue through mid-2020.
Discovery and Scripps will be moving out of 850 Third Ave. and 1180 Sixth Ave. It also has offices and studios in Chelsea Market, which is now owned by the ever-expanding Google, and its future there had yet to be determined.
The New York Post said that the combined company had also considered 441 Ninth Ave. and 1250 Broadway before settling on the 230 Park Ave. South, which has been modernized and sits just north of Union Square.
Other big media companies may also be on the move. Time Warner, which recently merged with AT&T, will relocate from its well-known Columbus Circle building to the up-and-coming Hudson Yards area. It was only a little over a decade ago that the company moved to its Columbus Circle location. The current location, where CNN in New York does most of its broadcasting, will be stripped and renovated for future tenants.
By: Paul Axelrod
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